The judge in the Tornado Cash case delivered an oral ruling today, rejecting both the Defense’s motion to compel discovery and their motion to dismiss the charges. This represents a massive setback for the Defense, and the judge’s reasoning may not bode well for developers and projects going forward.

Motion to Compel

The Defense’s motion to compel discovery sought to access a broad range of government communications, including exchanges with foreign authorities under the Mutual Legal Assistance Treaty (MLAT) and with domestic agencies like the Office of Foreign Assets Control (OFAC) and the Financial Crimes Enforcement Network (FinCEN). Citing Federal Rule of Criminal Procedure 16, the…

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As of September 26, 2024, the daily net flow of U.S. Bitcoin ETFs revealed a total net inflow of 1,706 BTC, increasing the overall holdings to 913,176 BTC. BlackRock’s IBIT ETF led the inflows with a significant addition of 2,913 BTC, boosting its total to 362,193 BTC. This was the most substantial increase among all ETFs for the day.

In contrast, Fidelity’s FBTC ETF experienced a significant outflow, losing 524 BTC and reducing its holdings to 177,198 BTC. ARK Invest’s ARKB ETF also reported a sizable decrease of 749 BTC, bringing its total holdings to 45,856 BTC.

Meanwhile, Bitwise’s BITB ETF showed a modest inflow of 32 BTC, now holding 38,618 BTC, and Grayscale’s BTC ETF added 44 BTC, reaching a total of 33,709 BTC. Valkyrie’s BRRR ETF experienced a minor outflow of 1 BTC.

Other ETFs such as VanEck’s HODL, Invesco’s BTCO, and Franklin Templeton’s EZBC remained unchanged. The total net inflow valued at approximately $111.5 million indicates a growing interest and investment in Bitcoin ETFs, despite some fluctuations across individual funds.

Disclaimer: Market capitalizations and data can vary in real-time. The information provided here is intended purely for educational purposes and should not, under any circumstances, be construed as financial advice.

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If we claim to be an improvement on traditional finance, we had better start playing the part. It’s clear how Bitcoin fixes rampant monetary discretion. It’s clear, too, how Bitcoin changes your relationship with money—both financially because you’re more inclined to save an appreciating asset—as well as physically because you can do novel things like hold the GDP of a small island nation on a USB. There is one thing, however, that is slowly gaining acceptance and needs to be accepted if we are to truly improve on the mistakes of the past, and that’s Proof of Reserves.

Bitcoin has unique audit properties baked into the system itself. Bitcoin allows any third party to audit…

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